Research Analysts Set Expectations for First Midwest Bancorp, Inc.’s Q2 2018 Earnings (FMBI)

First Midwest Bancorp, Inc. (NASDAQ:FMBI) – Stock analysts at Jefferies Group reduced their Q2 2018 earnings estimates for First Midwest Bancorp in a research report issued on Tuesday. Jefferies Group analyst C. Haire now forecasts that the financial services provider will post earnings of $0.38 per share for the quarter, down from their prior forecast of $0.39. Jefferies Group has a “Buy” rating and a $27.00 price target on the stock. Jefferies Group also issued estimates for First Midwest Bancorp’s FY2019 earnings at $1.67 EPS.

First Midwest Bancorp (NASDAQ:FMBI) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Midwest Bancorp had a return on equity of 7.81% and a net margin of 17.30%. The firm had revenue of $162.53 million for the quarter, compared to analysts’ expectations of $164.02 million. During the same quarter last year, the company posted $0.32 EPS. ILLEGAL ACTIVITY NOTICE: “Research Analysts Set Expectations for First Midwest Bancorp, Inc.’s Q2 2018 Earnings (FMBI)” was originally published by Stock Observer and is the property of of Stock Observer. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://www.thestockobserver.com/2017/10/13/research-analysts-set-expectations-for-first-midwest-bancorp-inc-s-q2-2018-earnings-fmbi.html.

Several other equities analysts have also issued reports on the stock. Zacks Investment Research raised shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub raised shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Piper Jaffray Companies raised shares of First Midwest Bancorp from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $25.00 to $26.00 in a report on Monday, July 24th. ValuEngine lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, FIG Partners lowered shares of First Midwest Bancorp from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $26.00 to $25.00 in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.17.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of First Midwest Bancorp by 8.5% during the second quarter. BlackRock Inc. now owns 11,210,324 shares of the financial services provider’s stock valued at $261,312,000 after buying an additional 873,753 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of First Midwest Bancorp by 13.1% during the second quarter. Vanguard Group Inc. now owns 8,957,728 shares of the financial services provider’s stock valued at $208,804,000 after buying an additional 1,037,378 shares during the last quarter. State Street Corp grew its holdings in shares of First Midwest Bancorp by 21.5% during the second quarter. State Street Corp now owns 3,645,798 shares of the financial services provider’s stock valued at $84,982,000 after buying an additional 644,968 shares during the last quarter. Northern Trust Corp grew its holdings in shares of First Midwest Bancorp by 20.1% during the second quarter. Northern Trust Corp now owns 2,673,098 shares of the financial services provider’s stock valued at $62,310,000 after buying an additional 446,786 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of First Midwest Bancorp by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 2,483,563 shares of the financial services provider’s stock valued at $57,890,000 after buying an additional 380,112 shares during the last quarter. 80.94% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Patrick J. Mcdonnell sold 3,500 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $21.85, for a total transaction of $76,475.00. Following the sale, the director now directly owns 24,237 shares of the company’s stock, valued at $529,578.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.69% of the stock is currently owned by insiders.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.71%. The ex-dividend date was Thursday, September 28th. First Midwest Bancorp’s dividend payout ratio is currently 34.19%.

About First Midwest Bancorp

First Midwest Bancorp, Inc is a bank holding company. The Company’s principal subsidiary, First Midwest Bank (the Bank), is an Illinois state-chartered bank and provides a range of banking, treasury and wealth management products and services, to commercial and industrial, commercial real estate, municipal and consumer customers.

Earnings History and Estimates for First Midwest Bancorp (NASDAQ:FMBI)

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